The eServices market in Colombia has been experiencing significant growth in recent years. Customer preferences for online services, coupled with favorable macroeconomic factors, have contributed to the development of this market. Additionally, local special circumstances have also played a role in shaping the trends in the eServices market in Colombia. Customer preferences in Colombia have shifted towards online services due to the convenience and accessibility they offer. With the increasing penetration of smartphones and internet connectivity, consumers are increasingly opting for digital services such as e-commerce, online banking, and digital entertainment. This shift in customer preferences has created a demand for eServices in Colombia, leading to the growth of the market. Trends in the eServices market in Colombia include the rise of e-commerce platforms, the adoption of digital payment solutions, and the expansion of online entertainment services. E-commerce platforms have gained popularity among consumers, providing them with a wide range of products and services at their fingertips. Digital payment solutions have also witnessed significant growth, with consumers embracing online transactions for their convenience and security. Furthermore, the demand for online entertainment services, such as streaming platforms and online gaming, has increased as consumers seek entertainment options from the comfort of their homes. Local special circumstances in Colombia have further contributed to the development of the eServices market. The country has a large population of tech-savvy millennials who are driving the adoption of digital services. Additionally, Colombia's urban centers are experiencing rapid urbanization, leading to increased internet penetration and access to technology. These factors have created a conducive environment for the growth of the eServices market in Colombia. Underlying macroeconomic factors have also played a role in the development of the eServices market in Colombia. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This has further fueled the demand for eServices as consumers have more purchasing power to spend on online platforms. Additionally, the government has implemented initiatives to promote digitalization and e-commerce, creating a supportive regulatory environment for the eServices market to thrive. In conclusion, the eServices market in Colombia is witnessing significant growth due to customer preferences for online services, local special circumstances, and favorable macroeconomic factors. The adoption of digital services, such as e-commerce, digital payments, and online entertainment, is on the rise as consumers seek convenience and accessibility. With the continued development of technology and supportive government initiatives, the eServices market in Colombia is expected to further expand in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
